Business Summary
February 2004
In 2004, Seahorse Power nabbed top honors—and $20,000—in Babson College's graduate business plan competition for its concept of selling a solar-powered trash compactor to businesses and governments. BusinessWeek.com's Kerry Miller checked in with founder James Poss three and a half years later to take apeek at his original business plan and see how it compares with Seahorse Power today—now 18 employees strong, with $3 million in revenues. Poss also offered advice for how aspiring entrepreneurs can write a winning business plan of their own. Flip through this PDF to see a complete annotated version of Seahorse Power's award-winning business plan.

CONFIDENTIAL

Disclaimer: This summary is notan offer to sell securities, nor a solicitation of an offer to buy securities.

Paying too much for waste collection?

James Poss and his partner debated about whether to include this sample brochure in their business plan, deciding that it was a good way of easing the reader in. "You really have to value the time of your reader and get your point across as quickly as possible," Poss says."You have to expect that even a diligent investor is not going to read your whole plan."

Seahorse Power Company has developed a cordless, solar-powered waste compactor for ski resorts, parking lots, and retailers — anywhere the sun shines.

Pick up less, Pay less.

The SunPack stores solarenergy to power highstrength compaction motors, eliminating 3 out of every 4 trips. The device can notify your waste hauler or employees when pickups are needed, eliminating unnecessary trips. In many locations, SunPack pays for itself in less than one year. SunPack preserves the environment by reducing litter and diesel truck trips. It can vastly economize recycling efforts too, by reducing thevolume of every bottle or can.

"We were wrong on the target customers, by a long shot," Poss says."We had made an assumption that municipalities would be slow and bureaucratic and that other places would be faster. The way it turned out, the private 1-888-820-0300 sector hasn't bought into the technology as much as municipalities."

Business Plan
Private and Confidential

Seahorse Power Company has a simple goal: to displace pollution, lots of it.
Our vehicle is innovation, and with it,we will introduce cost-saving environmental and a powerful message—that humans can live sustainable lives. And we will help them get there. ____________________________________________________________________________________

Executive Summary:
Seahorse Power Company (SPC) is a Massachusetts-based renewable energy technology company and the manufacturer of SunPack, a solar-powered trashcompactor.

SunPack saves money and reduces fuel consumption by reducing trash and recycling collection frequency. SunPack streamlines operations in a $20 billion collections industry in the U.S. Traditional ACpowered compactors, which now have applicable revenues of about $1.2 billion in the U.S., are confined to areas where a fixed electricity supply is economically attractive—next to a building,for instance. Across a parking lot in a shopping center, in more remote areas like parks and beaches, or where transportable solutions are needed, SunPack is the only solution. SunPacks eliminate 3 of every 4 trips to collect waste, and they notify sanitation workers via wireless beeper when bins need servicing. Target customers for our solar compactors are remote resorts and outdoor event...